SBM Offshore (OTCMKTS:SBFFY) Short Interest Up 151.7% in March

SBM Offshore (OTCMKTS:SBFFY) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 380 shares, an increase of 151.7% from the February 26th total of 151 shares. Based on an average trading volume of 635 shares, the days-to-cover ratio is presently 0.6 days.

SBM Offshore Price Performance

SBFFY stock opened at $38.80 on Friday. SBM Offshore has a 1-year low of $19.47 and a 1-year high of $38.97. The business’s 50 day simple moving average is $36.47 and its 200 day simple moving average is $30.47.

Wall Street Analyst Weigh In

Separately, Barclays upgraded shares of SBM Offshore from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

About SBM Offshore

SBM Offshore is a Netherlands?based provider of floating production, storage and offloading (FPSO) vessels and related services to the offshore oil and gas industry. Founded in 1965 as part of Royal IHC and listed as an independent entity in 2005, the company has established itself as a specialist in the design, engineering, construction and leasing of floating production systems. Headquartered in Schiedam, the firm leverages decades of experience in turret mooring technology and deepwater installations to serve oil and gas operators worldwide.

The company’s core offerings include turnkey FPSO solutions, which encompass front?end engineering design, detailed engineering, procurement, construction, installation and commissioning.